The popular online education platform has become a leader of the Chinese online education industry in just three years.
On June 21, 2021, Spark Education, a domestic online liberal education platform, formally submitted an IPO application to the SEC, planning to be listed on NASDAQ. The main underwriters are Credit Suisse, Citigroup and CICC.
Founded in December 2017, the company has been focusing on the cultivation of children's logical thinking, creativity and independent problem-solving ability and quality education concept. In just three years, Spark Education has rapidly become a leading brand in the field of quality education in China.
According to the prospectus, Spark Education achieves CNY 1.17 billion net income, up over 500% year-on-year. In the first quarter of 2021, its net income reaches CNY 454 million, up over 200% year-on-year. As of March 2021, Spark Education held about 3 billion in cash, indicating a healthy financial status. We will continue to pay attention to the listing of the company.